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DAIRY TO BE TRANSFORMED Massive project for Tuggerah site

 DALLAS SHERRINGHAM

AFORMER farming area adjacent to the Pioneer Dairy at Tuggerah will be transformed into a massive new fixed use development under a master plan for the booming suburb.

The area is located on the eastern side of the railway, just north of Tuggerah station. It has been dormant for a decade, other than its use as an outdoor storage facility.

According to real estate experts, it is one of the prime development sites on the Central Coast.

The husband and wife led Fiducia Property Group has won master plan approval for the 16ha site on the which it plans to transform into a mixed-use development.

The stage one approval includes six sites and will enable the developer to undertake fl ood mitigation and building works before lodging a state signifi cant application for 25 Bryant Drv, Tuggerah.

The site, next to Tuggerah Train Station and near Westfi eld Shopping Centre, is currently zoned for industrial use and will therefore need rezoning.

It could potentially include 1500 to 2000 dwellings, a brewery and employment opportunities as well as opening up the land-locked reserve next to Tuggerah Lake.

The Sydney-based developer acquired the 164,000sq m site, which has been dormant for the past decade, apart from its use as a storage facility by Wyong Coal until last year.

Fiducia chief executive Ben Doyle said the company had seen an opportunity to resolve a long-term problem in the area and capitalise on the under-utilisation of the land.

“This is a strategic acquisition for Fiducia with the site adjacent to the Tuggerah train station, and represents 56% cent of the remaining employment land in the immediate region,” Mr Doyle told leading property site Urban Developer.

Fiducia development director Marie Doyle said the company was committed to bringing their vision to the community and were working on the next stage.

In the past year, house prices in the region just north of Tuggerah at Newcastle and Lake Macquarie have increased 11.6% for houses and 18% for units according to Corelogic sales data.

SOURCES: Urban Developer, Fiducia.com.au

Artist impression of the project and below the site.

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